🚀 Elon Musk and Dogecoin: The Exit and Its Ripple Effects 🐕

Elon Musk has played a crucial role in Dogecoin’s journey, using his global influence to draw attention—and volatility—to the meme-based cryptocurrency 🪙 featuring the iconic Shiba Inu 🐶. Through tweets, endorsements, and business mentions, Musk significantly impacted Dogecoin’s public image and market value.

🧠 Musk’s Relationship with Dogecoin

Musk first showed interest in Dogecoin in 2019, calling it his “favorite cryptocurrency” and describing it as “pretty cool.” 😎

Over time, he frequently tweeted about DOGE 🐕‍🦺, often sparking major price shifts:

📈 In early 2021, his tweets caused a 40% price surge.

🌕 His April 2021 meme “Doge Barking at the Moon” led the price to double.

🛒 He even teased plans to use DOGE for Tesla merch and SpaceX missions—though many of those ideas are still on hold.

🚨 Despite the hype, his involvement stirred controversy.

Dogecoin co-founder Jackson Palmer called Musk a “self-absorbed grifter,” and a $258 billion lawsuit accused him of market manipulation—a case dismissed in 2024.

🔙 Pulling Back from Dogecoin

Lately, Musk has stepped back from Dogecoin promotion 📉, coinciding with his deeper dive into U.S. politics 🇺🇸:

💸 In 2024, Musk supported Donald Trump with a $200 million super PAC, gaining favor among crypto supporters hoping for looser regulations.

🏛️ In early 2025, the Trump administration humorously introduced a “Department of Government Efficiency” (DOGE)—a nod to the coin. Musk and Vivek Ramaswamy were initially involved, but by May 2025, Musk reportedly distanced himself from the initiative.

📵 His shift became clearer when Twitter (X) launched its digital wallet in 2025, excluding crypto support—a major pivot from earlier ambitions.

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